The Shiba Inu (SHIB) token has recently undergone a significant breakdown following a consolidation phase. The chart reveals a clear downward trajectory as SHIB failed to sustain its position within the previously formed ascending triangle pattern. The breach of the key support level at $0.000009, a reliable floor during consolidation, marked a decisive shift from accumulation to distribution.
With subsequent support levels at $0.0000087 and $0.0000082, the next critical level to watch is $0.0000076, potentially serving as the last defense before a more substantial drop. Reversal prospects hinge on reclaiming support levels, starting with a return above $0.0000087 and sustained momentum above $0.000009, accompanied by increased buying pressure.
Solana (SOL) presents a potentially pivotal chart pattern with a slow and steady ascending channel, indicative of a controlled uptrend. The formation, characterized by higher lows and higher highs within parallel trendlines, suggests continued growth. A breakout beyond the immediate local resistance at $55 could confirm bullish sentiment, supported by increased trading volume and positive developments within the Solana ecosystem. Conversely, a dip below the channel’s lower boundary at $48 might indicate a bearish turn.
Ethereum (ETH) is showing signs of decreasing momentum, with recent price movements indicating a potential shift in trajectory. Facing a critical moment, Ethereum struggles to maintain its grasp on the market, approaching the local 26-day Exponential Moving Average (EMA) at $2,465. A breach of this level could lead to a test of the 50 EMA around $2,300, signaling a lack of immediate bullish support. Investors are advised to monitor these key moving averages, recognizing the potential for increased volatility and recalibrating expectations for sustainable gains in the long term.
